Nuveen Green Capital Provides $42 Million Loan For CitizenM Hotel Conversion In Washington DC
FINANCED
$42,000,000
Hotel85,000 SF
Financed
FINANCED
Nuveen Green Capital Provides $42 Million Loan For CitizenM Hotel Conversion In Washington DC
3401 Water Street Northwest
See Similar DealsHotel85,000 SF
Financed
Summary
Asset Type:Hotel
Price Per Square Foot:$494
Total Square Footage:85000 SF
Transaction Type:Loan
The asset involved in this transaction is a hotel located at 3401 Water Street Northwest in Washington, DC. It spans 86,000 square feet and consists of 230 keys.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $42,000,000
- Loan Type: Construction
- Loan Terms: 30 years
- Lender: Jonathan Kloos, Joseph Zhong & Colleen Chou - Nuveen Green Capital
- Landlord: Another Star
This transaction involved the expertise of Jonathan Kloos, Joseph Zhong, and Colleen Chou, who represented Nuveen Green Capital as lenders. The financing aims to support the conversion of the citizenM Hotel and enhances energy and water efficiency measures through C-PACE financing in collaboration with DC Green Bank.
Players
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Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$42,000,000.00
Monthly NOI$280,000.00
Monthly Debt Service$265,468.57
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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